Ascent Wealth Partners LLC grew its position in Alphabet Inc. (NASDAQ:GOOGL – Get Rating) by 15.5% during the first quarter, Holdings Channel reports. The firm owned 2,537 shares of the information services provider’s stock after acquiring an additional 340 shares during the period. Alphabet makes up approximately 1.3% of Ascent Wealth Partners LLC’s portfolio, making the stock its 22nd largest position. Ascent Wealth Partners LLC’s holdings in Alphabet were worth $7,057,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Morling Financial Advisors LLC purchased a new stake in shares of Alphabet in the fourth quarter worth about $29,000. West Bancorporation Inc. purchased a new stake in shares of Alphabet in the fourth quarter worth about $29,000. Wealthgate Family Office LLC purchased a new stake in shares of Alphabet in the fourth quarter worth about $32,000. NS Partners Ltd purchased a new position in Alphabet during the fourth quarter worth approximately $41,000. Finally, Schubert & Co purchased a new position in Alphabet during the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 41.70% of the company’s stock.
Alphabet Trading Up 7.7 %
NASDAQ:GOOGL opened at $113.06 on Thursday. The firm has a market cap of $1.49 trillion, a PE ratio of 20.45, a price-to-earnings-growth ratio of 1.12 and a beta of 1.10. The company has a current ratio of 2.87, a quick ratio of 2.85 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average price of $154.24 and a 200 day moving average price of $139.07. Alphabet Inc. has a 12-month low of $101.88 and a 12-month high of $151.55.
Insiders Place Their Bets
In other Alphabet news, major shareholder 2021 Gp L.L.C. Gv purchased 255,647 shares of the firm’s stock in a transaction on Tuesday, May 10th. The stock was bought at an average cost of $34.65 per share, with a total value of $8,858,168.55. Following the acquisition, the insider now directly owns 479,695 shares of the company’s stock, valued at $16,621,431.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder 2021 Gp L.L.C. Gv bought 255,647 shares of the business’s stock in a transaction dated Tuesday, May 10th. The shares were acquired at an average price of $34.65 per share, for a total transaction of $8,858,168.55. Following the completion of the transaction, the insider now owns 479,695 shares of the company’s stock, valued at $16,621,431.75. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ann Mather sold 300 shares of Alphabet stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $108.94, for a total value of $32,682.00. Following the sale, the director now owns 11,360 shares in the company, valued at approximately $1,237,558.40. The disclosure for this sale can be found here. Insiders sold 6,039 shares of company stock valued at $12,649,005 in the last ninety days. Insiders own 11.44% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on GOOGL shares. BMO Capital Markets lowered their price target on Alphabet from $165.00 to $150.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 27th. Monness Crespi & Hardt decreased their target price on Alphabet to $145.00 in a research report on Tuesday, July 5th. Susquehanna decreased their target price on Alphabet from $187.50 to $150.00 and set a “positive” rating on the stock in a research report on Wednesday. Oppenheimer decreased their target price on Alphabet to $155.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Truist Financial cut their price target on Alphabet from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday. Five investment analysts have rated the stock with a hold rating, thirty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $149.08.
Alphabet Inc provides various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment offers products and services, including ads, Android, Chrome, hardware, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.
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